STOCKS FALL: Here's what you need to know

Stocks failed to rally into the green on a relatively calm day
for markets that saw no major economic data released. The Dow is
now negative for the year. Monday afternoon, however, saw reports
that Greece's creditors may have extended a new lifeline.

Apple unveiled a bunch of upgrades and new services at its
big annual Worldwide Developers Conference (WWDC)
in San Francisco.
Shares fell about 1% ahead of the conference but rallied
from the lows during the event. Here are some of the
highlights: Apple Music will let you stream any song on iTunes
on demand for $9.99 a month from June 30. (Pandora's
stock plunged 4%.) OS X El Capitan is the newest operating
system for Macs, and iOS 9 will replace iOS 8 on iPhones and
iPads. Apple Watch software also got an upgrade. We have all
the details
here.

Deutsche Bank shares surged more than 6% after
co-CEOs Anshu Jain and Jürgen Fitschen stepped down
over the weekend, replaced by John Cryan. They resigned amid
several regulatory and legal problems, including probes into
rigging of benchmark interest rates, tax evasion, and money
laundering. Fitschen had been in court over perjury charges. It's
a big mess that's now in Cryan's
hands for cleanup.

McDonald's
reported that US same-store
sales fell more than expected
in May. Sales at stores open for at least a year fell 2.2%
compared to the prior year – more than the 1.7% decline that
was expected. Global comparable store
sales fell 0.3% in May, less than the 0.9% decline that was
expected. In Europe,
comparable-store-sales rose 2.3% against expectations for a
0.6% increase. The company will only
disclose these numbers for one more month.

Tesla shares
gained up to 3% after
Baird analysts raised their price target to $335 from $275
with an "Outperform" rating. They wrote in a note that the
Model X SUV launch, Tesla Energy, and the upcoming shareholder
meeting on Tuesday are likely positive catalysts. "We
like the setup of news flow which should
help drive the stock higher and improve
sentiment, which is still not overly positive," they wrote.
Tesla has surged 15% year-to-date.

Investors are nervous about stocks and until they feel
differently, we're probably not at the top. In a client
note on Monday, Wells Fargo's Gina Martin Adams wrote:
"At the market peak in 2000,
66% of individual investors were bullish.
Likewise, at the peak in 2007, 55%
were bullish. Today, just 25% of individual
investors are bullish stocks. Until
investors become significantly less nervous about
the future for stocks, the longer-term bull market likely
remains intact." Her 12-month fair value
estimate for the S&P 500 is 2,222.